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Satyam vs Kingfisher

We all know the Kingfisher crisis and the airline is expecting funding from its bankers/investors to stay afloat. While many will be happy to see the airline close, there’re few who expect Govt support to ailing airline, directly or indirectly.They compare Kingfisher crisis to Satyam scandal.

Some key differences:
Satyam’s founder admitted to massive accounting fraud. But company had some cash flow, accounts receivable and because of this new management managed to pay salaries, vendors and creditors. Share holders were the only affected people. Employees got their salary and found other jobs eventually. In case of kingfisher, it owes to everyone- employees, vendors, oil companies, airports, government and so on. Liquidity is near zero and fresh cash flows are fast dwindling due to flight cancellations and consumer preferences on other airlines

Satyam’s new board took management control of Satyam, held it in one piece till they could sell it off to Mahindras. In case of kingfisher, there’s no talk of management control. The proposal is that banks give it more and more loan-without any concrete plan as to where it will go and how it will be recovered. Corporate Debt restructuring appears to be a big joke wherein lenders try to show their loan as an “Asset”, while the truth being, it is an almost write-off.

Satyam’s founder went to Jail. In case of Kingfisher, would the Mallya and other KF Sr management dare to face an enquiry/prosecution or bad corporate governance?

Satyam being an IT Company- All IT companies were making profit and business Satyam owned (IT outsourcing projects) had good value proposition and chances of being turned around. In case of Kingfisher, airline industry as such is deemed to be an white elephant, with returns taking forever to materialize. What makes more sense: accept the losses and close or pump in more money in expectation of a miracle?

Satyam scandal was abrupt. One fine morning (Jan 7, 2009) Ramalinga Raju decided that he’ll declare the truth. Rest of the world learnt about it only then. In case of Kingfisher, the loses were evident from the beginning. Everyone knew that airline is not making money and its financial health is not great. If some of the bankers had the guts to step in an year earlier and put pressure on airline management, today’s crisis could have been avoided.

Tata Aria Drive and photoshoot

What will you do if you get an 18 lakh 4×4 vehicle for 10 days? I got one for review from Tata Motors and set out on a long long drive.

Drove for about 2888 kms burning diesel worth about 11k and covered places around Shimoga, Sagara and coastal karnataka. Took lot of photos of the vehicle in scenic places and sharing a few with you.

Aria was fully loaded with 4×4, cruise control, traction control and so on, just to mention a few out of a huge list…Deepavali holidays well spent with aria.. Photos for you to have a look

Tata Aria reflection in water

Aria with a beach background (Ottinene beach)

Tata Aria with rainbow

Aria in front of Nagara Fort… more about Nagara fort here

Aria in a road near Hebri…

Tata Aria on top of a dam

Aria with boats in back ground… Arabian Sea

Aria on a railway track…

Aria with a ship in background

another aria pic

Tough car with a tough notebook- Aria with Panasonic Toughbook

 

Aria in front of Shiva statue, Murudeshwara

View photos of first set here

Rescaling Satyam

Read this ET article to know more about Satyam’s path to recovery…

http://economictimes.indiatimes.com/tech/ites/rescaling-satyam-mahindra-satyam-has-come-a-long-way/articleshow/10163834.cms

Satyam Computers Chennai CSC Office

Indian Gaurs at Valparai

During one of our early morning walks in a tea estate in Valparai, Tamil Nadu, we spotted a herd of Indian Gaurs, about 10-12 in number. They were feeding themselves in the middle of a tea estate. We went closer, under the guidance of estate caretaker.Here’re some closeup photos of the Indian Gaur clicked in Valparai tea estate.Below one gives closeup look of female Gaur…

Below photo is without zoom-you can spot about 5+ in the picture, there were 5+ more around

The mighty Indian Gaur (Male). This one appeared to be in command of the group. Weighing about 1500 kgs, most of it is muscle and not fat, attack by these can be deadly.

As we went closer, there was constant eye battle. While the gaurs evaluated if we’re a threat that needs offensive action or if we can be ignored, we evaluated how further we can go without agitating the animals. Eventually there was a trade off. Gaurs slowly started moving away from us and we started retreating. I was thinking they were planning an ambush taking advantage of tea estate, but that didn’t happen.

Because of tea estate, we couldn’t see their white coloured legs. Even without that, it was a good experience getting so close to the gaurs (aka Indian Bison)
– Originally published at Enidhi.net

Valparaiso De Chile

Was in Chile for a short duration recently. Valparaiso is a beautiful port city, about 90mins drive from Santiago, Chile’s capital city. Valparaiso has a unique landscape- it has got sea on one side, little bit of flat surface and then hills. Similar to our Vizag 🙂

Below are some views of the Valparaiso city, taken from elevated grounds…

In simple words, the visuals of the city are fairly similar to what you get to see in GTA vice city… 🙂